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Hedgey Finance Suffers Dual Exploits, Losing $44.7 Million in Funds

Hedgey Finance suffered a devastating blow on April 19 when two simultaneous exploits drained $44.7 million from the token infrastructure platform. During the two-hour attack, the hacker utilized the ‘createLockedCampaign’ function with flash-loaned funds across multiple blockchains. The ETH attack resulted in a loss of $1.9 million, while the Arbitrum exploit led to a theft of $42.8 million in ARB tokens. Hedgy Finance is collaborating with internal and external security experts to investigate the vulnerabilities exploited during the attacks and will provide further updates as new information becomes available.

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